Alright, so I need some advice.
If the only way one can get life or disability insurance is through a group plan by working for another company is that something which should stop one from going out on their own?
I am in a position right now, were I have potentially two contracts for my own company. The management of the contracts over the short term is not a problem. The problem is that if I do this, I will need to walk away from a potential FTE contract to hire position (which will supposedly happen in anywhere from 2-4 months -- though it has been about 2-3 months longer than expected already).
From a salary/health care perspective, I can afford this and I'll probably go on my own now.
The question becomes, I'll lose out on any possibility of disability and life insurance. I have a chronic illness which will pretty much guarantee I can't get any of those. The rate for the two contract is such that I can work roughly 200 hours less over the course of the year in order to maintain the same effective salary as what I would be making as an employee (assuming the discussed salary for conversion remained the same).
Note: the salary differential takes into account business side taxes, full medical coverage, HSA contributions, solo 401K contribution, business side taxes/medicare/fica, but not business expenses.
So the question is: how much is life and disability insurance worth? From a financial perspective, my wife would have enough support from both sets of parents (mine and hers) to deal with the hardships financially if we don't have it.
Note 2: As of right now, the disability and life insurance that I have the contract agency for the contract tot hire position is negligible. So effectively this becomes a "do I wait and hold out solely for the life and disability or do I say fuck it and go for it on my own".
Make sense?